Golden Entertainment Joins List of Casino Dividend Payers

Golden Entertainment (NASDAQ: GDEN) is now among the group gambling casino operators paying investors a quarterly dividend.

In conjunctive with its fourth-quarter earnings report on Thursday, the Strat manipulator announced that it initiated a quarterly dividend of 25 cents a share. The statistical distribution is payable on Apr 4 to shareholders of record book as of Mar 18. Based on the gaming company’s closure part terms of $34.26 yesterday and a $1 per part yearbook payout, Golden Entertainment’s dividend bear would live 2.9% as of March 1.

That’s more than two-baser the pay on the Lillian Russell 2000 Index, which is a widely followed standard of measurement of small-cap equities — a relevant equivalence because with a securities industry capitalisation of $982.23 million, the gaming resides inward small-cap territory.

At the last of lowest year, Golden had cash in and hard currency equivalents of $197.6 million, which doesn’t include hard currency from the cut-rate sale of its Nevada distributed gaming unit. That dealings closed in(p) on Jan. 10.

Golden Balance Sheet Can Support Shareholder Rewards

Golden Entertainment isn’t a stranger to shareholder rewards. Last July, it announced a special dividend of $2 per share piece adding $100 one thousand thousand to a apportion repurchase program. Those moves emphasise the robust health of the operator’s equilibrise sheet.

With 1 of the strongest equilibrize sheets in gaming and full ownership of its properties, we bear on to urge GDEN as an inexpensive way of life for exposure to the good for you(p) and growing Southern Sagebrush State Gaming region,” wrote Macquarie analyst Republic of Chad Beynon inward a short letter to clients.

He has an “outperform” rating on Golden with a $47 price target, which implies upside of 37.1% from the Mar 1 close.

In the quaternary quarter, the Arizona Charlie’s operator repurchased $59 zillion of debt, bringing its 2023 debt reducing tally to $239 million. At the last of the year, the gaming company had $677.7 meg inward prominent liabilities and no more undischarged borrowings on its $240 meg revolving course credit facility.

Laughlin Source of Strength, Intrigue for Golden

While earnings before interest, taxes, depreciation, and amortisation (EBITDA) at Golden’s 2 Laughlin, Sagebrush State casino resorts declined 9% in the 4th quarter, revenue rosebush despite in that respect beingness 1 to a lesser extent concert than in the year-earlier period.

“In December, Laughlin revenue and EBITDA showed confirming ontogeny over the prior year, and we bear on to consider signs of security deposit stabilisation to start 2024. Entertainment is a openhanded number one wood of execution for our Laughlin properties, and we are working to optimize our offerings to create more cost-effective traffic drivers to our venues o'er the coming year,” said Golden CFO and President Charles Stuart Protell on a group discussion phone with analysts.

However, the operator remains mum on the still shuttered Colorado Belle — a Laughlin locus that was unsympathetic due to the coronavirus pandemic and has yet to reopen. It’s unlikely Golden testament reopen that riverboat casino, but the companionship hasn’t in time in public revealed next steps for the property.

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